Slow pace of foreclosures could delay housing recovery
OtherForeclosure filings across Broward and Palm Beach counties are down in July by more than 50 percent compared with a year ago, according to RealtyTrac Inc., an Irvine, Calif.-based listing firm. Nationally, foreclosure activity hit a 44-month low. It’d be great if all this were a sign of an improving economy, but it’s not. “This string of decreases was initially triggered by the robo-signing controversy back in October 2010, which forced lenders to substantially slow the pace of foreclosing, but the downward trend in foreclosure activity has now taken on […]